India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it. State Bank of India will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met. Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said. A regulatory source aware of the development said from a banking system perspective that no entity was over-exposed to the Adani group and there was no cause for concern. Earlier on Thursday, Israel said it wants Adani Group to continue to invest there, adding that the US allegations were not "problematic" from its perspective. "We wish Adani and all Indian companies continue to invest in Israel," Israel's Ambassador to India Reuven Azar told Reuters in an interview. The Adani Group holds a 70% stake in Haifa port in northern Israel and is involved in projects with Israeli firms, including manufacturing military drones and commercial semiconductors. Adani and seven others are accused by US authorities of being part of a scheme to pay bribes to secure Indian power supply contracts. The Adani Group has denied the allegations. The Indian ports-to-power conglomerate has also received public backing from Abu Dhabi's International Holding, which maintained its outlook on investments in the group. "Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC said on Wednesday, adding that it "continues to evaluate relevant information and developments". IHC, which is one of Adani's key foreign investors, boosted its stake in the group's Adani Enterprises flagship to more than 5% last year after selling down investments in Adani Green Energy and Adani Energy Solutions. Shares in Adani Green, the company at the centre of the bribery allegations, rose by 10% on Thursday, hitting the cap on gains in a single session for a second consecutive day, with Adani Energy also up the maximum 10%. The total losses in the value of Adani Group's 10 listed companies have narrowed to $14.5 billion from about $34 billion, the low reached on Tuesday after the US indictments.
Air India launched a Black Friday Sale with discounts up to 20% on domestic flights and up to 12% on international flights to various destinations. The sale is available through the airline's website and mobile apps. Additional savings are possible with waived convenience fees and specific payment methods. The airline continues offering student and senior citizen discounts.Air India on Friday launched a limited-time Black Friday Sale offering discounts of up to 20 per cent off base fares for domestic flights within India. The Tata-owned airlines will also offer up to 12 per cent off base fares ...Read More >
Ahmedabad (Gujarat) [India], December 2 (ANI): Ambuja Cements has taken a step toward achieving its Net Zero goals. The company has partnered with Finland-based technology leader Coolbrook to implement its proprietary RotoDynamic Heater (RDH) technology. According to the exchange filing, this cutting-edge, zero-carbon heating solution, powered by renewable electricity, will drastically reduce the company's dependence on fossil fuels and lower its carbon emissions, aligning with its sustainability vision. Ambuja Cements will significantly reduce its fossil fuel dependence by harnessing renewa ...Read More >
OCCRP had published news articles against Adani; BJP MP Sambit Patra calls Rahul 'traitor of highest order' After a hiatus of two days, the Winter Session of Parliament plunged into chaos again Thursday, this time due to the ruling BJP targeting Leader of the Opposition Rahul Gandhi and the Congress, accusing them of being part of a plan to "derail" India's economy and "disrupt" its democracy. Senior BJP MP Nishikant Dubey raised the matter in the Lok Sabha, alleging that a "dangerous triangle" ...Read More >
New Delhi [India], December 6 (ANI): After a steep correction in October 2024, where the Nifty 50 index fell around 6 per cent and closed 8 per cent lower than its all-time highs, FII outflows reduced in November, a sharp drop from October outflows says a report by JM Financials. The benchmark index remained largely flat in November, reflecting a calmer trading environment. Foreign Institutional Investor (FII) activity also exhibited a notable slowdown in selling pressure. FII outflows reduced to Rs182 billion (USD 2.2 billion) in November, a sharp drop from Rs919 billion (USD 10.9 billion) ...Read More >
Mumbai (Maharashtra) [India], December 11 (ANI): The Indian stock markets continue to be in a consolidation phase as both indices opened flat on Wednesday. The Nifty 50 index opened at 24,620.50 points with a surge of 10.45 points or 0.04 per cent, while the BSE Sensex opened at 81,568.39 with a gain of 58.34 points or 0.07 per cent. Also Read | 'Suriya 45': Is Trisha Krishnan the Female Lead in Suriya Sivakumar's Upcoming Film With RJ Balaji? Check Out the Viral Photos. Experts noted that the US Consumer Price Inflation data will be the major event for markets globally. However, the consol ...Read More >
NEW DELHI: Government is all set to allow 100% foreign direct investment in insurance business, paving the way for large companies to enter the market on their own, while allowing individual insurance agents to hawk policies of multiple companies, lifting the cap on being associated with only one life and general insurer. The twin measures are part of the Insurance Amendment Bill that is proposed to be introduced during the winter session of Parliament that kicks off later this month. On August 19, TOI was the first to report about the proposed increase in the FDI ceiling, a suggestion which ...Read More >
Mumbai, December 4: The domestic benchmark equity indices closed in green on Wednesday as buying was seen in PSU bank and realty sectors. The investors are keenly watching the Reserve Bank of India's (RBI) monetary policy committee (MPC) meeting which will announce its decision around the repo rate on Friday. Banking stocks rose amid volatile sessions in the market due to the possibility of Cash Reserve Ratio (CRR) cut by the central bank. Sensex settled at 80,956.3, higher by 110.58 points, or 0.14 per cent, while the Nifty ended at 24,467.45, up by 10.30 points, or 0.04 per cent. Stock Mark ...Read More >
Mumbai, Dec 10 (VOICE) The Indian stock market closed on a muted note on Tuesday after range-bound trading during the session. At closing, Sensex was up 1.59 points at 81,510.05, and Nifty was down 8.95 points at 24,610.05. Meanwhile, the broader market closed on a positive note. On the Bombay Stock Exchange (BSE), 2,025 stocks closed in the green, 1,938 stocks settled in the red, and 130 without change. During the session, midcap and smallcap stocks outperformed largecap. Nifty midcap 100 index was up 136.65 points, or 0.23 per cent, at 59,135, and Nifty smallcap 100 index was up 54.60 poin ...Read More >
Responding to Pattali Makkal Katchi (PMK) floor leader G.K. Mani, who raised the issue in the House, Mr. Stalin said, "Adani did not meet me nor did I meet him." Tamil Nadu Chief Minister M.K. Stalin on Tuesday (December 10, 2024) told the State Assembly that he had not met Adani Group chairman Gautam Adani, dismissing rumours about the conglomerate's alleged links to the State. Responding to Pattali Makkal Katchi (PMK) floor leader G.K. Mani, who raised the issue in the House, Mr. Stalin said, ...Read More >
Leading investment and trading platform Kotak Securities is cautious in its market outlook for 2025, balancing India's fundamentals with concerns over valuation and global uncertainties, but has not ruled out a level of 29,000 on the Nifty 50 index. While the country's growth trajectory remains robust, recent economic data and corporate results indicate a slowdown in some areas, prompting a more tempered outlook, said the note. Kotak Securities has highlighted the slowdown in rural demand during ...Read More >
Bigg Boss 18: Shilpa Shirodkar is termed 'biggest backstabber' after Vivian Dsena... Deepak Kalal fights with passenger in flight? Know the truth behind viral video Delhi court fixes Nov 28 for hearing former CM Arvind Kejriwal's plea over sanction copy in... Where will the Champions Trophy 2025 be played? ICC to take final call on THIS date Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan recalls telling Amitabh Bachchan he made 'big mistake' by... Deepinder Goyal's Zomato opens Rs 8500 crore QIP share sale, sets floor price at Rs... Delhi Capitals co-owner pens emotional fare ...Read More >
Proceedings in both houses of the Parliament came to halt on Wednesday amid protests by Oppostion members over the Adani Bribery controversy, recent violence in Sambhal in Uttar Pradesh and other issues. Lok Sabha proceedings were initially adjourned until 12 noon and later until Thursday, as Opposition members, including those from Congress, protested and sought to raise various issues at the start of the session. Some members from the Congress and Samajwadi Party were in the Well while other Opposition members stood in the aisle and shouted slogans. The Opposition members wanted to discus ...Read More >
New Delhi, Dec 4 (PTI) The Congress Wednesday said a "cover-up" is in the making after reports claimed entities connected to the Adani Group have approached the SEBI seeking settlement in a case that alleges violations of public shareholding norms through unfair practices. It asserted the "scam" requires serious punitive action, including arrests and raids by investigative agencies. Congress general secretary in-charge communications Jairam Ramesh said a token settlement would make Indian institutions a laughing stock whose reputation has already been tarnished by the actions of Prime Minist ...Read More >
The Supreme Court on Monday stayed further recovery of an outstanding tax demand from news portal NewsClick, directing the company's banker not to release any more money to the tax department based on a 2023 notice, and allowing the portal to use its two bank accounts for daily operations. The order was passed by a bench headed by justice BV Nagarathna on an application moved by PPK Newsclick Studio Limited, which alleged that ICICI Bank was not allowing the company to use its accounts despite a top court order to this effect passed on August 9. The tax department had raised the demand again ...Read More >
French energy giant TotalEnergies has paused new investments in Gautam Adani's conglomerate amidst ongoing U.S. corruption investigations. Adani Green Energy Ltd. clarified that this pause will not affect its operations, as no new funding was under discussion. The Adani group denies all allegations as baseless. French energy giant TotalEnergies has paused new investments in Gautam Adani's conglomerate due to an ongoing U.S. investigation into alleged corruption charges against Adani and two executives. Adani Green Energy Ltd stated that this decision would not impact its operations since no ...Read More >
So, we believe the seasonality flavour should work out in the month of December. Apart from that market breadth that is more important to look out for where only if you look in the current corrective phase only 12% of the stocks were trading above the day moving average of total CNX 500 and that is coming to now improving to around 33%."We expect Nifty to find the support in the range of around 23,500 to 23,700 and we should be gradually heading towards the target of 24,500," says Dharmesh Shah, ICICI Direct. How is the new series looking to you? Do you think we are all awaiting that Santa ra ...Read More >
New Delhi, Dec 3 (PTI) Shares of seven Adani Group firms ended in the green on Tuesday, with Adani Ports surging 6 per cent, emerging as the biggest gainer among the Sensex and Nifty firms. The stock of Adani Ports surged 6.02 per cent, Ambuja Cements soared 5.15 per cent, ACC (2.56 per cent), Adani Enterprises (2.33 per cent), Sanghi Industries (2.09 per cent), Adani Wilmar (1.19 per cent) and NDTV (0.45 per cent) on the BSE. Also Read | What Is 'Tankhah', Religious Punishment Given to Sukhbir Singh Badal by Akal Takht in 2015 Sacrilege Case?. However, shares of Adani Green Energy went low ...Read More >
Samsung's facing a lot of crises and the company has unable to chart a clear path forward, particularly in the semiconductor market, where its foundry is lagging behind, its next-gen memory products are struggling to compete against SK Hynix, and legacy products are under pressure from Chinese companies. The company does a significant employee reshuffle across the entire organization every year. The process has started a bit earlier this time around as there's very much a sense of urgency to improve things. The reshuffle has reportedly seen some senior executives being fired as well. Samsung ...Read More >
China and Hong Kong stock markets are experiencing a downturn due to rising concerns over the U.S.-China trade war, particularly regarding proposed tariffs and chip sales restrictions. The CSI300 and Shanghai Composite indexes fell, while Hong Kong's Hang Seng Index dropped 1.32%. Investors are wary of potential new restrictions on semiconductor and AI chip exports to China, further exacerbating market uncertainty. The automotive sector, led by BYD, also suffered from intense price competition among Chinese carmakers. Investor sentiment remains cautious, reflecting fears of escalating trade te ...Read More >
Mumbai, November 29: The Indian stock market opened in green on Friday as buying was seen in the Media and Pharma sector in early trade. At around 09.44 a.m., the Sensex was trading at 79,369.57 after gaining 325.83 points or 0.41 per cent, while the Nifty was trading at 24,019 after rising 104.85 points or 0.44 per cent. The market trend remained positive. On the National Stock Exchange (NSE), 1345 stocks were trading in the green, while 876 stocks were in the red. Nifty Bank was up 224.45 points or 0.43 per cent at 52,131.30. Nifty Midcap 100 index was trading at 56,397.95 after gaining 97. ...Read More >
NEW DELHI: Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to ...Read More >
Drones and remote sensing technology Light Detection and Ranging (LiDAR) are being used to map the 620 acres densely populated Dharavi slums In a first for any slum rehabilitation project in India, the Dharavi Redevelopment Project (DRP) has embraced cutting-edge technologies to survey and document Asia's largest slum, officials said. Drones and remote sensing technology Light Detection and Ranging (LiDAR) are being used to map the 620 acres densely populated Dharavi slums. This is to ensure accuracy, transparency, and efficiency in a redevelopment project of this scale and complexity. The D ...Read More >
Markets opened on a cautiously optimistic note on Wednesday, with the Sensex and Nifty showing marginal gains, while investors closely monitored global economic indicators and upcoming domestic policy decisions. The Sensex opened higher at 81,036.22 from its previous close of 80,845.75 and is currently trading at 81,168.92 as of 9.45 am, up by 323.17 points or 0.40 per cent. Similarly, the Nifty opened at 24,488.75 compared to its previous close of 24,457.15 and is now at 24,558.20, rising by 101 ...Read More >
Around 16 equity mutual funds have offered more than 30% CAGR in the last three years, based on the daily rolling returns. There were around 222 equity mutual funds that have completed three years of existence in the market. These 16 schemes were from six different categories. 10 small cap funds, two mid cap funds, a multi cap, flexi cap, contra fund, and an ELSS fund offered over 30% CAGR in the mentioned period. The first four toppers in the list were from the small cap category. Quant Small Cap Fund offered the highest CAGR of around 43.60% in the last three years based on daily rolling r ...Read More >
European nations are investigating a Chinese cargo ship for underwater sabotage in the Baltic Sea, according to a report. Earlier this month, two undersea fibre-optic data cables were cut in the Baltic Sea. The first cable was damaged between Sweden and Lithuania and the second cable was damaged between Germany and Finland. Shortly after the damage was discovered, Sweden took the lead in investigations and European nations -- all members of the North Atlantic Treaty Organization (Nato) -- began pursuing a Chinese cargo ship in the region. The Chinese ship, Yi Peng 3, is currently anchored in ...Read More >
While India's growth story remains intact, market returns may moderate in the near term after two years of outperformance. After a sharp correction from the record highs of September, the equity market is widely anticipated to swing within a range as it wavers through moderating earnings growth, consumption slowdown, lofty valuations, and other global macroeconomic headwinds. Even though a persistent sideways movement of the market is likely to drag overall returns, traders are shifting towards pair trading to beat the market. Pair trading is a market-neutral strategy that allows investors t ...Read More >
INDIA bloc MPs, donning black jackets with slogans like "Modi Adani Ek Hai", protested at Parliament demanding a joint probe into the Adani issue. Priyanka Gandhi Vadra accused PM Modi of evading discussion on the "Adani mega scam" while defending Adani's alleged corruption. Rahul Gandhi asserted that Modi won't investigate Adani as it would be like investigating himself.Congress leader Priyanka Gandhi Vadra Thursday said the country's people want the "Adani mega scam" to be discussed in Parliame ...Read More >
STL Digital, an IT Services and Consulting Company (a wholly-owned subsidiary of Sterlite Technologies), announced the successful deployment of RISE with SAP S/4HANA Cloud for eight Vedanta companies (Hindustan Zinc, Sterlite Copper, Cairn Oil & Gas, Sesa Goa Iron Ore, Vedanta Aluminium, Vedanta Zinc International, ESL Steel, Vedanta Corporate), globally. Vedanta, a globally diversified natural resources, energy, and technology conglomerate, prioritizes operational excellence, timely execution o ...Read More >
New Delhi: India's opposition MPs on Wednesday, December 11, greeted their BJP counterparts in Parliament premises with the tricolour in one hand and a red rose in the other, urging the ruling party to ensure that the Parliament functions properly. This is the latest in a series of demonstrations led by Congress over the issue regarding industry mogul Gautam Adani getting indicted by the US. Leader of Opposition in the Lok Sabha Rahul Gandhi also offered the tricolour in the form of a card to Defence Minister Rajnath Singh when the latter was entering the main Parliament building. Congress ...Read More >
Major blast outside Badshah's nightclub in Chandigarh, glass window shatters; no casualty Amid linkup rumours with Abhishek Bachchan, Nimrat Kaur says 'that spotlight belonged to you': 'Main ta bahut lucky..' 'One Nation One Subscription': Centre's scheme to ensure access to research articles, journals EXPLAINED Shillong Teer Results TODAY November 26, 2024: Check winning numbers here Meet woman who has become the youngest to travel all 195 countries, she is from... Kerala lottery TODAY November 26 Live Sthree Sakthi SS 443 Tuesday, check winning ticket, prize money here The Matrix villa ...Read More >